Deals of the Week - 17th June 2024

New South Wales

BUNDELLA - $17.3 million 

German billionaire and co-owner of one of the world's largest agricultural machinery companies, Cathrina Claas-Muehlhaeuser, has acquired a 2287-hectare agricultural property in the Liverpool Plains region.

Adding to her 1,400-hectare holding at Blackville, Ms Claas-Muehlhaeuser was the only bidder for the property known as 'Tuwinga'. The property was offloaded by premium beef producer, Mooney Pastoral Co, which is owned by T2W.  

This sale represents the first time Tuwinga has been publicly offered for sale since the mid-1800s. 

The deal was managed by Elders' Chris Malone and Ben Green. 

MEADOWBANK - $2.2 million 

A site known as ‘The Wedge’, situated immediately adjacent to Meadowbank Train Station in Sydney’s west, has sold. 

The 342 sqm site at 27 Railway Road, which has DA and CC approval for a three-storey mixed-use development, was sold for $2.2 million to Salute Group from Sasco Pty Ltd.  

The sale was negotiated by Knight Frank's Demi Carigliano, Anthony Pirrottina and Harrison Burcher.

Victoria 

CLYDE NORTH - $14.1 million 

Burgess Rawson has facilitated the transactions of nine assets at Oreana’s development, ‘The Square Berwick'.

Located at 121 Grices Road, the prime neighbourhood activity centre is appropriately positioned in the thriving south-east growth corridor. 

Burgess Rawson’s Romanor Falconer, David Napoleone, Justin Kramersh and Shaun Venables managed the nine transactions, achieving an average yield of 5.63%.  

Tenants include Splash’s Swim School, Heritance Restaurant and Bar, Snap Fitness along with a medical centre and independent grocer. 

SOUTH YARRA - $3.8 million 

Melbourne cafe mogul and Founder of Only Hospitality Group, Julien Moussi, has swooped on an iconic South Yarra property which adjoins the train station for $3.8 million.

Located at 163 Toorak Road, the 500 sqm property is the former home of the iconic Rah Bar nightclub and is perhaps one of Melbourne’s most unique hospitality venues, as it features direct access to a platform at South Yarra station.  

The deal was managed by Jones Real Estate's Paul Jones, Luke Peric and Sam Guest.

Queensland 

CHAPEL HILL - $7.2 million

A mixed-use development site in Brisbane’s southwest with approval for residential small lot houses and a childcare centre has sold for more than $7 million following strong buyer demand. 

The 8,411 sqm site at 70 Fleming Road in Chapel Hill is currently predominantly vacant, housing just a single detached dwelling on the southern portion of the site.  

However, it has approval for 17 small lot houses and a 108-place childcare centre with 25 car parks.  

It was purchased by a Brisbane-based development group from YM Private Pty Ltd following a sales campaign run by Knight Frank's Christian Sandstrom. 

BAHRS SCRUB - $6.51 million 

Market-leading fund manager Clarence Property has sold Harmony Early Learning, located in Bahrs Scrub, to a Brisbane-based investor.

The property, situated at 5 Bahrs Scrub Road, has a long-term lease in place to Harmony Early Learning Childcare, a locally based childcare business that operates 15 centres across SEQ and Northern NSW with plans to open another 25 centres over the next three years. 

CBRE’s Harrison Coburn managed the sale on behalf of Clarence Property with the price reflecting a 5.8% yield. 

NEWSTEAD - Undisclosed

National Business, Cohen Handler Buyers Agents, have purchased one of Brisbane’s most recognisable buildings at 68 Commercial Road.

Improved by four storeys of commercial, retail and residential spaces, the 1,862 sqm building sits on a 519 sqm Mixed-Use zoned site, with the on-market campaign generating strong interest from a range of buyer groups. 

The incoming purchaser was drawn to properties exceptional location, accessibility and exposure and has plans to fully refurbish the building in arguably the most sought-after near city precinct.

Tim Jones and Harry Borger of JLL negotiated the sale.